3MSE.L vs. 3GDE.L
3MSE.L (Leverage Shares 3x Microsoft ETP EUR) and 3GDE.L (Leverage Shares 3x Long Gold Miners ETC EUR) are both Leveraged Equities funds from Leverage Shares. 3MSE.L is passively managed, while 3GDE.L is actively managed. Over the past year, 3MSE.L returned -68.46% vs 29.50% for 3GDE.L. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3MSE.L vs. 3GDE.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with 3MSE.L having a -62.40% return and 3GDE.L slightly higher at -61.40%.
3MSE.L
- 1D
- 0.00%
- 1M
- -28.26%
- YTD
- -62.40%
- 6M
- -62.31%
- 1Y
- -68.46%
- 3Y*
- -18.77%
- 5Y*
- -10.30%
- 10Y*
- —
3GDE.L
- 1D
- 0.00%
- 1M
- -41.13%
- YTD
- -61.40%
- 6M
- -66.60%
- 1Y
- 29.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3MSE.L vs. 3GDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3MSE.L Leverage Shares 3x Microsoft ETP EUR | -62.40% | -6.09% | -12.64% |
3GDE.L Leverage Shares 3x Long Gold Miners ETC EUR | -61.40% | 690.23% | -18.68% |
Correlation
The correlation between 3MSE.L and 3GDE.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | 0.10 |
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Return for Risk
3MSE.L vs. 3GDE.L — Risk / Return Rank
3MSE.L
3GDE.L
3MSE.L vs. 3GDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Microsoft ETP EUR (3MSE.L) and Leverage Shares 3x Long Gold Miners ETC EUR (3GDE.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 3MSE.L | 3GDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.16 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 0.37 | -1.26 |
| Martin ratioReturn relative to average drawdown | -1.45 | 0.77 | -2.22 |
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Drawdowns
3MSE.L vs. 3GDE.L - Drawdown Comparison
The maximum 3MSE.L drawdown since its inception was -82.27%, roughly equal to the maximum 3GDE.L drawdown of -81.14%. Use the drawdown chart below to compare losses from any high point for 3MSE.L and 3GDE.L.
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Drawdown Indicators
| 3MSE.L | 3GDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.27% | -81.14% | -1.13% |
Max Drawdown (1Y)Largest decline over 1 year | -76.33% | -81.14% | +4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -76.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -82.27% | — | — |
Current DrawdownCurrent decline from peak | -75.51% | -81.14% | +5.63% |
Average DrawdownAverage peak-to-trough decline | -36.08% | -24.78% | -11.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.14% | 38.42% | +8.72% |
Volatility
3MSE.L vs. 3GDE.L - Volatility Comparison
The current volatility for Leverage Shares 3x Microsoft ETP EUR (3MSE.L) is 32.61%, while Leverage Shares 3x Long Gold Miners ETC EUR (3GDE.L) has a volatility of 55.92%. This indicates that 3MSE.L experiences smaller price fluctuations and is considered to be less risky than 3GDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3MSE.L | 3GDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.61% | 55.92% | -23.31% |
Volatility (6M)Calculated over the trailing 6-month period | 76.21% | 116.83% | -40.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 83.19% | 140.02% | -56.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.97% | 118.89% | -41.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 76.51% | 118.89% | -42.38% |
3MSE.L vs. 3GDE.L - Expense Ratio Comparison
Both 3MSE.L and 3GDE.L have an expense ratio of 0.75%.
Dividends
3MSE.L vs. 3GDE.L - Dividend Comparison
Neither 3MSE.L nor 3GDE.L has paid dividends to shareholders.
Frequently Asked Questions
3MSE.L and 3GDE.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
3MSE.L and 3GDE.L have the same expense ratio: 0.75% per year.
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